Louis Cammarosano: A Collapsing Economy vs Physical Gold & Silver
Louis Cammarosano: A Collapsing Economy vs Physical Gold & Silver by Rory – The Daily Coin
If you have been following along with the physical gold and silver retail markets you know all too well that U.S. Mint coin sales are way down. In some cases north of 60% month after month when compared to the abysmal 2016 sales. Is this a function of sentiment, economic factors or the crypto space stealing capital inflows? I argue that it is a combination of all three, but primarily the economic rot that is now palatable.
U.S. Mint American Silver Eagles sales have fallen below the sales of the Perth Mint silver sales for the first time in the history of the American Silver Eagle program. This has now been sustained for two months running. If there is a third month the Perth Mint out sales U.S. Mint ASE’s this would be considered a pattern. The sad part is, Perth Mint silver sales are down more than 20% year over year.
Click Chart to Enlarge
I sat down with Louis Cammarosano, smaulgld, to review what is happening between these mints. We had just recently discussed the Silver Institute and how they have been reporting a silver “deficit” for the past 11 years. We wanted to follow up that information with what is happening on the ground and document everything for the Silver Institutes 2018 report and compare the numbers.
Our economy, as more and more people are learning, is very serious trouble. Healthcare costs, education, rents/mortgages, food, energy all the items that impact our daily lives are rising on a daily basis. We are told over and over again “inflation needs to move higher to stimulate the economy“. The items measured for inflation are not items essential to sustain life, your home or your family.
According to mainstream media – those bastions of “truth” – healthcare costs are approximately $10,000 per person in 2016. Say brother, can you spare $10,000? I can attest to this in 2017. A few months ago I had to go to the emergency room by way of an ambulance. The 5 hour non-issue cost us $8,000. This would ruin most American families
When I write about “economic collapse”, I am writing about a process that has been unfolding for decades in this country. Back in the early 1970s, well over 60 percent of all Americans were considered to be “middle class”, but now that number has fallen below 50 percent. Never before in our history has the middle class been a minority of the population, but that is where we are at now, and the middle class continues to get even smaller with each passing day. Source
How about inflation and the real unemployment numbers?
According to John Williams Shadow Stats unemployment is depression era levels and inflation is raging.
How can people afford a few extra Silver Eagles, Kooks or any other silver or gold coin when they are unemployed and inflation is eating away any and all income?